Chesapeake Capital Corp IL Trims Stake in UFP Technologies, Inc. (NASDAQ:UFPT)

Chesapeake Capital Corp IL decreased its position in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 40.6% during the fourth quarter, Holdings Channel reports. The fund owned 2,125 shares of the industrial products company’s stock after selling 1,453 shares during the period. Chesapeake Capital Corp IL’s holdings in UFP Technologies were worth $520,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio grew its holdings in shares of UFP Technologies by 144.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,218 shares of the industrial products company’s stock worth $5,136,000 after acquiring an additional 9,593 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of UFP Technologies by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 67,099 shares of the industrial products company’s stock worth $21,250,000 after buying an additional 2,842 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of UFP Technologies in the 3rd quarter worth approximately $1,176,000. Principal Financial Group Inc. grew its stake in shares of UFP Technologies by 3.8% in the 4th quarter. Principal Financial Group Inc. now owns 39,108 shares of the industrial products company’s stock worth $9,562,000 after buying an additional 1,444 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in shares of UFP Technologies by 32.2% in the 3rd quarter. Jane Street Group LLC now owns 11,581 shares of the industrial products company’s stock worth $3,668,000 after buying an additional 2,822 shares during the last quarter. Hedge funds and other institutional investors own 87.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded UFP Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd.

UFP Technologies Stock Performance

UFPT stock opened at $206.98 on Wednesday. The stock has a market capitalization of $1.59 billion, a PE ratio of 29.53 and a beta of 1.15. UFP Technologies, Inc. has a 12-month low of $193.70 and a 12-month high of $366.41. The company has a current ratio of 2.57, a quick ratio of 1.43 and a debt-to-equity ratio of 0.64. The stock’s 50 day simple moving average is $249.27 and its 200 day simple moving average is $279.87.

UFP Technologies (NASDAQ:UFPT) last released its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.45. The business had revenue of $144.07 million for the quarter, compared to analysts’ expectations of $141.67 million. UFP Technologies had a return on equity of 18.92% and a net margin of 11.74%.

Insider Activity at UFP Technologies

In related news, Director Daniel C. Croteau sold 6,846 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $228.41, for a total value of $1,563,694.86. Following the transaction, the director now directly owns 1,785 shares of the company’s stock, valued at approximately $407,711.85. This represents a 79.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.17% of the stock is currently owned by insiders.

About UFP Technologies

UFP Technologies, Inc designs and manufactures solutions for medical devices, sterile packaging, and other highly engineered custom products. The company offers protective drapes for robotic surgery, single patient use surfaces, advanced wound care, infection prevention, disposables for surgical and endoscopic procedures, packaging for medical devices, orthopedic implants, biopharma drug manufacturing, and coils for catheters; and molded components for applications in acoustic insulation, interior trim, load floors, sunshades, SUV cargo cover handles, driveshaft damping, engine and manifold covers, quarter panels, and wheel liners.